US debt crisis: a bloody battle with no winners, only losers

Tuesday, August 2, 2011
By Paul Martin

A deal on raising the debt ceiling finally emerges – and for all the sound and fury, the net result is a meaningless jumble

by Richard Adams

What kind of debt ceiling deal is it when none of the parties involved seem happy? Barack Obama went on national television to say: “Is this the deal I would have preferred? No.” The Republican Speaker of the House of Representatives, John Boehner, told journalists: “This isn’t the greatest deal in the world.”
Politics in Washington DC has come to this: everybody loses, because nobody can win. It’s very possible that both Obama and Boehner will be out of a job come January 2013.

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